Mexico pauses free trade agreement negotiations with South Korea

Mexico pauses free trade agreement negotiations with South Korea

MEXICO – Mexico has paused negotiations for a Free Trade Agreement (FTA) with South Korea in order to design the objectives it wants to achieve, said Marcelo Ebrard, minister of Foreign Affairs.

The Mexican government announced publicly last March 2 the start of negotiations for South Korea’s entry into the Pacific Alliance for the first half of 2022, and the start of negotiations for a “bilateral FTA”.

Ebrard told that he recently made a working visit to South Korea, where he promoted the attraction of investments in the production of electric batteries and everything related to the automotive industry.

“Beyond this free trade agreement, there will be a relocation process for them and we are inviting them to participate in the opportunities available in Mexico,” Ebrard added.

It is worth mentioning that the South Korean government approved a plan to join the Trans-Pacific Partnership Agreement (TIPAT, in which Mexico participates), in a finally official announcement after a period of analysis and consultations with interested parties in said country.